A recent blog article in the Wall Street Journal indicates that landlords have “seize[d] the upper hand in [the] apartment market”. This is an interesting development. The article cites the all too common shift where former homeowners are losing their properties to foreclosure and becoming renters. The article specifically singles out Chicago as a place where a renter’s rent is going up from “$765 from $720” because landlords “know they can get more for my unit”. This certainly bodes well for landlords who want to keep their rental units filled.
